Bitcoin and the Human Problem

Guy Swann references this essay (and an excerpt published as 'Modern Money Only Works by Cheating') to critique the argument that fiat's elasticity saved economies.

The piece offers a macro investor's view on monetary systems, trust, and whether Bitcoin can function as a global money.

In the episode, it serves as a foil for Swann's longer rant defending hard money principles and arguing that fiat's elasticity causes systemic imbalances.

The transcript treats it as an influential recent essay rather than a traditional book.